I’m new to the site and to leasing (this place has been a lifesaver). I’m currently looking to lease either an A4 or an Alfa Romeo Giulia. For the A4, I haven’t found any offers more competitive than what I see on Honcker, which is not all that great. For the Giulia, I have received the offer below.
I have a handful of follow-up questions for them, but before I reach out I’d like some guidance on what I should be asking. The discount off MSRP seems pretty fair, but the residual value is poor so I’m not sure what I should be requesting. As an FYI, I didn’t specify a down payment amount when I spoke to them or I would have asked for $0 down.
2018 Alfa Romeo Giulia AWD - 39 months/12k miles per year
What’s the MF? You should not be doing 39 months, that kills the residual. 24 is the sweet spot for guilia’s, 36 will only save you a few dollars a month. Not worth the extra year imo. The 8K off is a good discount, but something is wrong. The MF is raised maybe, or the dealer is hiding fees… Or the 8K off is including the incentives, which it shouldn’t. The incentives should go on top of the discount… How’s your credit? You should be able to achieve $400 a month with zero down for 36 mos with only first month due.
Thanks for the feedback. I asked the MF before receiving that quote, but didn’t receive a response. That was one thing I was going to ask in my follow up. I have excellent credit, so my credit shouldn’t be an issue.
I was wondering the same regarding the discount. I assumed the sale price wa not inclusive of it.
Ti
.00008 MF and 60% residual
.00001 MF and 49% residual
$3750 lease cash
This is for 24 and 36 months from Edmunds. Not sure where you’re located, but it should be similar if not the same. Switch to 24 months, and make sure you’re getting all the incentives on top of the negotiated discount.
I should definitely qualify for Tier 1. I did not select Ally; that came from them. When I reply to them, I’ll ask for a quote for 24 months as well and I’ll ask the MF.
If selling price is $34,337 and residual is $20,347, that means the total cost of the lease should be $13,990 over 39 months, NOT including interest, tax and drive-offs.
$388 per month for $39 months plus 3,000 down is $18,132, a difference of $4,142. Those are some hefty hidden fees and interest charges.
As others have said, you need to get the MF they used.
To this point, I’ve stayed within a 90 minute drive from my house, which encompasses two dealerships. There are a couple of other dealers that are ~90 minutes away.
I received clarification that the MF is .00076. I’m putting the numbers in the calculator and now it seems to align for the most part. If I take the rebate straight off of the down payment, I’m getting a drive off of a little under $3k and monthly payments of $400.
Morris County and Maple Shade both have agressive pricing. Others on here have had good pricing with Fullerton, I personally didn’t.
I wouldn’t bother with Ray Catena.
I’m in seattle, wa. Tax rate is $10.3
I’m starting shopping 2018 giulia fron today and my target is under $400.
You think its possible?
Another question is I have a car for trade in and its pay off balance is about $46k as a customer pay off. Then dealers pay off amount should be $46k - %10.3 so about $41~42k right?
In advance, thank you so much!
That’s not how the payoff works. Your financed vehicle is taxed above the APR. If you owe $46K, that doesn’t include your tax. If you trade it in, the dealer has to pay off the amount you owe, not less than you owe. If the dealer only offers you $42K for the car, you have to pay the remaining $4k.
On my previous lease, the payoff amount for the dealership was $xx,xxx (don’t know the exact numbers), but if I wanted to buy the car, my price would have been $xx,xxx + tax. So I think what @yongming is saying is that the dealer’s payoff amount is not taxed while he would be taxed if he bought out the car.
